Impact of Coronavirus has claimed many businesses, operational companies and number of employments in The United Kingdom. With functioning sectors being shut down, zero revenue generation and many individuals losing their jobs, there is a major concern and indeed the biggest challenge faced by the UK government. It has been reported by three previous chancellors that economy is estimated never to recover from the corona impact. COVID-19 is leaving citizens with depression and elevated anxiety as what the uncertain future holds from them. In order to aid the helpless individuals and declining businesses, the government of United Kingdom has introduced the self-employment income support, job retention scheme, bounce back loan scheme and more.
It may sound surprising but there are businesses making more than usual in the present situation. As corona outburst has made number of businesses come to halt for a course of time; however, there are several business sectors flourishing amid the virus surge.
let’s talk about the businesses that are booming despite of ongoing pandemic surge in the United Kingdom. Technology, gardening companies and home workout are being highly profitable benefitting from the lockdown situation in many regions.
1. FITNESS EQUIPMENT SUPPLIERS
There has been a growing demand of exercise machines and equipment since the occurrence of the lockdown. As people have settled down their routines for remote working, studying, home chores and significant workout sessions at home, there has been noticeable demand of fitness equipment suppliers in many regions of UK. People are prioritizing their health and fitness regimes in the unprecedented times and continuing their workout routines at home. To fulfill the apparent need of fitness machines, individuals are preferring to get equipment supplied at their residencies. From turbo trainers to bodyweight equipment and everything in between, articles are being sold and supplied in large numbers than ever before. Reportedly there has been an upgraded amount of sales of home exercise equipment since the last month stated by many exercise machines suppliers. Seems like with extra downtime in hand, citizens are spending leisure reaching their fitness goals in quarantine.
2. VIRTUAL MEETING COMPANIES
Before the start of the year 2020, nobody thought that we all would be working or studying from homes. But we are here working from the comfort of our homes trying to maintain the same level of productivity as our workplaces. With a massive shift towards remote working and online education, there has been an accelerated usage of video calling and virtual meeting software and apps. Being convenient, easy to use and providing the needed platforms for individuals to be at the same place and communicate; these virtual meeting software have become the utmost need in present times. Workers participate in the meetings that are officially conducted and communicate without any obstructions. In the same regard these meeting apps and software are also used for conducting online classes and educational lectures maintaining educational continuity. A poll conducted on the site of academic help in UK shows the positive feedback of users who have been actively using software since the quarantine began in their regions.
The Companies offering the services of video calling and shared video meetings are evidently experiencing a tremendous boom at the moment. Zoom, Skype and the Microsoft Teams have reportedly observed an additional 50% rise in daily users. It had been stated by the Michael Wades (Professor of innovation and strategy at IMD Business School in Switzerland), that the prices of shares along with sales of Zoom are more than fifty percent in the year 2020. In addition to that, he also added about Skype and Microsoft Teams experiencing a major upgrade in sales in the ongoing year.
Analyzing the whole scenario, it would be a no-brainer to declare the video calling companies are actually real beneficiaries of the lockdown.
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3. HOME GARDEN ITEMS
With free time in hand and living a quarantine life, most of the citizens have fixated their energy and skills towards home improvements. To build a healthier atmosphere at homes, many are diverted towards home gardening and maintenance. In the same context, many plant and seed suppliers are reporting greater amount of sales than usual in many areas. There has been a demand of tomato, lettuce, carrot, bean and many other seeds which sellers are trying to cater on time. Some of the seed sellers ran out of the selling items and had to stop taking orders for a time being. The massive interest of people in planting vegetable patches at home has brought a surge to the home garden businesses in UK. Overwhelmed by the increased demand, sellers are trying to cater all orders with a great dedication.
Let’s all be honest here; we have stayed up all night to binge watch our favorite seasons the most this quarantine. Majority of us also traded our work hours to finish that one particular episode (as there’s nobody watching over us :D); all thanks to the Netflix!
Netflix being the paid media streaming service has experienced the surge of subscribers this year, outnumbering all previous years since their launch. Reportedly more than 16 million people subscribed to Netflix in the starting months of the year 2020, which is double than the total subscribers in 2019. Providing the incessant streams of addicting series and seasons, it is a perfect paradigm to invest your money in. It is estimated that housebound population would keep subscribing to the streaming services more with passing time.
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Millions of consumers and buyers being housebound has driven a fixation towards online shopping platforms and sites largely. Moreover, the surge is expected to continue till the lockdown and quarantine end.
Despite of ongoing pandemic, Amazon is doing incredibly well and has experienced a 20% increase in revenue since the last four months consecutively. It has been reported by The Guardian that Jeff Bezos has added $24bn of gigantic fortune amid Coronavirus spread globally.
In the same context, Online UK grocer Ocado, being overwhelmed by the tremendous amount of incoming orders had to shut down the operations till the clearing up of lined-up packages.
No matter how bizarre it sounds, but there are companies raking in money amid present times of crises; it’s true and happening around us.